The Special Investigating Unit (SIU) has been authorised by President Cyril Ramaphosa to investigate Acsa for maladministration and financial misjudgement in interest rate swap agreements relating to state capture findings.
The SIU will investigate Acsa’s agreements with various banks, according to the organisation. In addition, the investigation will also look into improper or unlawful conduct by Acsa employees or officials.
“This includes the unlawful appropriation or expenditure of public funds or property, irregular or unapproved transactions, practices or measures involving state property, intentional or negligent loss of public funds, damage to public assets, offences outlined in the Prevention and Combating of Corrupt Activities Act, 2004. The investigation also extends to any unlawful or improper conduct by individuals causing or potentially causing significant harm to public interests,” explained Kaizer Kganyago, Spokesperson for the Special Investigating Unit.
The investigation will cover the time period from 1 January 2008 to 22 November 2024, as well as any related activities before this period or after the date of the proclamation, if necessary.
